FYI: Back on May 14th when the US Supreme Court ruled that a nationwide ban on sports betting was unconstitutional, many pundits (both in finance and sports) immediately argued that the casino stocks would be big beneficiaries.
Since the Supreme Court ruling, though, the average and median performance of publicly traded casino stocks has actually been weaker than the S&P 500’s 1.8% gain.
As shown below, the winners in the casino space since the SC ruling have been Boyd Gaming (BYD), Golden Entertainment (GDEN), and Empire Resorts (NYNY). Las Vegas Sands (LVS), MGM Resorts (MGM), and Wynn Resorts (WYNN) have all seen declines.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/casino-stocks-not-benefiting-much-from-sports-betting-ruling-so-far/
